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Obama issued a series of proposals Monday that aim to tighten federal spending.
AP Photo

GREEN BAY, Wisc. – Linking the financial crisis on Wall Street with government inefficiency in Washington, Barack Obama issued a series of proposals Monday that aim to tighten federal spending and increase oversight of government workers.

In what was billed by his campaign as a major economic speech, Obama sought to undercut efforts by John McCain and Sarah Palin in recent weeks to cast themselves as the political outsiders with an address that was heavy on reform rhetoric. He spent comparatively little time Monday addressing the bailout debate in Washington, saying he hopes Congress works "quickly a bipartisan fashion, to resolve the immediate crisis and avert an even broader economic catastrophe.”

Obama pledged to cut federal contracts by 10 percent, and establish a “SWAT team” headed by a newly-created chief performance officer that could eliminate wasteful programs and fire failing managers.

“No matter what solution we finally decide on this week,” Obama said, referring to the $700 billion Wall Street bailout plan, “it is absolutely imperative that we get to work immediately on reforming the broken politics and the broken government that allowed this to crisis to happen in the first place.”

“We’re here because for too long, the doors of Washington have been thrown open to an army of lobbyists and special interests who’ve turned our government into a game only they can afford to play – who have shredded consumer protections, fought against common-sense regulations and rules of the road, and distorted our economy so that it works for them instead of you,” Obama continued.

Monday’s speech marked a return to a familiar topic for Obama, who began his candidacy 20 months ago promising to curb special interest influence in Washington. Yet he has been challenged on this front lately, as Palin has traveled the country touting her credentials as a “reform governor” and McCain began highlighting change over experience.

Obama’s focus on government reform in the midst of the financial crisis drew a rebuke from the McCain campaign.

“Once again today, all that Barack Obama had to offer was talk and taxes,” spokesman Tucker Bounds said in a statement. “After first promising a plan to address this economic crisis, all Barack Obama delivered for hardworking Americans was political attacks and a total lack of leadership.”

McCain is seizing upon Obama’s decision last week to not roll out a detailed plan on the financial crisis, arguing that he didn’t want to muddy the Capitol Hill debate over a bailout package. Obama did, however, deliver a major speech in March on regulatory reform and has outlined principles that he says the Wall Street rescue plan must reflect.

By shifting to a reform message Monday, Obama was trying to capitalize on a deep strain of anti-Washington sentiments among voters. He delivered the message in this battleground state, where polls show the race in a statistical dead heat.

Speaking at an arena here that was unusually empty for an Obama campaign event – about a quarter of the 8,300-seat venue was unfilled – Obama detailed his proposal:

— He would create team of “highly-trained government professionals” within the White House aimed at accountability. Setting up a potential clash with government unions, the team would evaluate agency performance, enforce standards, thin the ranks of middle managers and move more workers to local offices.

— He pledged to save $40 billion a year by overhauling federal contracting practices and reducing the number of contracts.

— A new agency would be created to identify recipients of corporate subsidies and evaluate their effectiveness.

— An Office of Governmental Ethics would receive the authority to enforce ethics rules.

— Obama would prohibit former procurement officers from serving as lobbyists for contractors “under their purview” for two years after leaving the government.

Dear concerned citizens of America and Mass Media of the U.S.A. As a concerned registered independent voter, forensic psychiatrist, disabled American I made my decision to vote after taking into consideration following joint tickets attributes and characteristics. 1. Has the ticket shown adequate calmness, coolness, and connectedness's under pressure to lead our nation [Presidential Temperament]? 2. Has the ticket shown sustained sound "Judgment and Caliber"? 3. Has the ticket shown adequate understanding of depth and degree to address the crucial challenges in their their purpose, policies, and positions [ Honesty, integrity and sincerity]? 4. Has the ticket sufficient "understanding and knowledge" of inside Washington workings [Experience]"? 5. Has the ticket reservoir resilience, wisdom, and vigor to address the present and future f our beloved "Great-grand Nation"? 6. Has the ticket enough joint foreign policy experience and exposure based on " Values, Virtues, Vastness, and " [American moral soul]"? 7. Has their campaign talk, slogans, ads, plans, and programs based on facts and are they free of fear, fiction, frivolous labels, unfair attacks, negativity, and impulsively? [No "imminent danger to national security and safety"]. 8. Has the ticket genuinely kept on message of country first and politics last and avoided copying [Message change"]? 9.Has the ticket message stayed away from Culture divide and war[ Disaster prevention ]? 10. Has the ticket resisted being surrounded, supported and surrogate's by divisiveness, distortion's, and destructive characters, [ Real patriotism VS shiftiness and shameless parrot-ism]? 11. Has the ticket thoughtful, real non-partisan, & non-impulsive plans to address our current economic crisis or political tactics and temperamental statements. I have personally and professionally concluded that OBAMA-BIDEN ticket will lift and inspire our greatgrand nation back to its greatness within and restore our global standing with the use of maximum, firm international diplomacy and minimal force if and when indicated {" Peace thru Strenght "}. Yours sincerely, COL. A.M.Khajawall [Ret] MD. Forensic psychiatrist, Disabled American Veteran and Iraq Freedom team. Grass roots California leader per Senator McCain's mailings. PS: Protect U.S.A from McCain-palin's reactive and knee-jerk reactions.

Obama pledged to cut federal contracts by 10 percent, and establish a “SWAT team” headed by a newly-created chief performance officer that could eliminate wasteful programs and fire failing managers.

He's already starting out with a false premise. Government has always been the watchdog on themselves and quite frankly they've done a terrible job. We need oversight not affiliated or connected to government in any way to reign in wasteful spending. Otherwise we're just kidding ourselves.

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say. all

This is getting pretty grim. I wish I could believe Obama, but his history suggests no action will be taken here. You can't argue on one side of your mouth that you'll tighten federal spending but talk on the other side of your mouth that you're going to set up a government healthcare plan.....thats not tightening federal spending! McCain doesn't get it, and Palin is still giving the same darn speech from the convention...... This stinks......

I'm sure MCcain can really come thru in real terms for the people. He can really relate w/ his 8 Houses and now we find l3 Cars. 2 foreign made and his main ride a caddilac ( wonder the mpg) Obama you might wonder... go ahead guess.................... ONE car Ford Explorer Hybred. AGain OBAMA walks the walk when it comes to being green AND more in touch w/ the people. or is it SOOO Elitest to own just one car. Republicans: Party of the Greedy and Stupid

"Senator John McCain?s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say. " RETIRE MCANCIENT I'll do you one better!! Barry Boy was the #2 recipient of special interest money from Freddie Mac and Fannie Mae!! This was from 1998 to 2006 and Barry had only been in office for 2 fricken years!!!!!!! Number 2 after only 2 fricken years!!!!!!!!!!! So I'm sure if McCains campaign manager got money from them, then surely you are LIVID that the potential POTUS got millions upon millions in 2 years!!!!!!!!!!!! But that doesn't worry you I'm sure, no one ever accused a Dem-wit of doing research!!!!!!!!!!

Did anyone else notice when Paulson spoke at least Obama did not try and second guess what was being done? He said they will be busy now and I'll see the plan when it's ready, meanwhile, I don't know the details. McCain immediately started talking about firing someone who had nothing to do with the problem. He is mentally unhinged like Captain Queeg, if you remember that character.

One thing to remember McCain has been in the senate for what close to 30 years? He has voted most of the times with the big bush policies. And he is talking about change? I don't hear anyone talking about the 8 years of failure?

On the other hand Obama is talking sweet economics and I still don''t see any practicality in his plans.

None on them two has anything to provide.

Thanks but no thanks (Palin needs to get another speech apart from the GOP convention one). She needs to start coming clean with her abuse of power.

McCain needs to stop stealing 'The Change' from OBama

Obama will somehow have to suffer the consequences of not picking Hilary. And Obama will have to be clearer in his vague statements of change

I don't think I can stand 4 more years of the Carter administration... You youngsters don't remember that...talk about scary...it fits the Obama foot print I'm afraid that Obama is the Most Liberal...we need a moderate like Clinton or McCain...

This is getting pretty grim. I wish I could believe Obama, but his history suggests no action will be taken here. You can't argue on one side of your mouth that you'll tighten federal spending but talk on the other side of your mouth that you're going to set up a government healthcare plan.....thats not tightening federal spending! McCain doesn't get it, and Palin is still giving the same darn speech from the convention...... This stinks......

Tony did you know the Government grew 40% under BUSH and alot of that is facist Bs w/ security and war. Plus there has been rampant wasteing of dollars everywhere and the Iraq war is also going to be 7oo Bil $. We can cut alot of BS waste. It has been so long since we have had competent responsible government. When Obama brings that we will be OK.